On July 22, 2008, American Community Bancshares, Inc. ("the Registrant") announced financial results for the quarter ended June 30, 2008. For the second quarter of 2008, unaudited earnings were $484,000, as compared to unaudited earnings of $1.2 million for the same period of 2007. A copy of the press release (the "Press Release") announcing the Registrant's results for the quarter ended June 30, 2008, including a table of selected financial information, is included as Exhibit 99.1 hereto and incorporated by reference herein.

The information contained or incorporated by reference in Item 2.02 of this Current Report shall not be deemed "filed" for purposes of section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On July 22, 2008, the Registrant announced that its board of directors declared a cash dividend of $0.05 per share for the third quarter of 2008. The dividend will be paid on September 2, 2008, to shareholders of record on August 22, 2008.

(d) Exhibits.

Exhibit No.    Description of Exhibit
99.1           Press Release dated July 22, 2008, regarding the Registrant's results of
               operations for the quarter ended June 30, 2008, and third quarter
               dividend of $0.05 per share

This Current Report on Form 8-K (including information included or incorporated by reference herein) may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of Registrant's goals and expectations with respect to earnings, income per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. These statements are based upon the current belief and expectations of Registrant's management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Registrant's control).